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Shell boss Ben van Beurden slammed for reaping more than £18m ahead of possible shareholder rebellion

Shell boss Ben van Beurden slammed for reaping more than £18m ahead of possible shareholder rebellion

Shell boss Ben van Beurden has been slammed for reaping more than £18million ahead of a possible shareholder rebellion this week. 

Calculations by The Mail on Sunday show that the Dutch businessman – who has led Shell since 2014 – has seen the valuations of his shares and other payments soar.  read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Climate-focused Dutch funds to take lead on Shell investor engagement

Reuters

Climate-focused Dutch funds to take lead on Shell investor engagement

By  and : MAY 19, 2022

LONDON, May 19 (Reuters) – Two climate-focused Dutch pension fund managers have been named to lead climate negotiations with Shell (SHEL.L) on behalf of a major group of investors that helped shape the energy company’s drive to cut greenhouse gas emissions.

MN and PGGM will officially take the role on behalf of the Climate Action 100+ (CA100+) investor group comprising $68 trillion in assets following Shell’s annual general meeting on May 24, MN said on Thursday. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell suffers blow as investor group withholds approval for energy transition plan

CITYA.M.

Shell suffers blow as investor group withholds approval for energy transition plan

: MONDAY 16 MAY 2022

Shell’s battle to gain approval for its energy transition plan has suffered a heavy setback, as a major investor announces its intention to abstain on a key resolution at the firm’s upcoming annual general meeting.

Royal London Asset Management (RLAM), which holds a £1.2bn stake in the energy giant, has criticised the oil and gas trader’s climate transition plans. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Windfall Tax on Oil Giants BP & Shell?

Mirror.co.uk

Oil giants’ profits for three months would be enough to give every household £450

Analysis by shadow Climate Change Secretary Ed Miliband shows that Shell and BP made combined profits of £12.37billion in the first quarter of 2022.

By Mikey Smith: Whitehall Correspondent: !4 May 2022

Profits made by oil giants in the first three months of this year were enough to give every household £450 towards soaring energy bills.

Analysis by shadow Climate Change Secretary Ed Miliband shows that Shell and BP made combined profits of £12.37billion in the first quarter of 2022. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Activist investor prepares to take on Shell over climate targets

CITYA.M. 

Activist investor prepares to take on Shell over climate targets

: THURSDAY 12 MAY 2022

Shell is preparing for a shareholder showdown at its upcoming general meeting later this month, with activist group Follow This pushing the energy giant to commit to more stringent environmental targets.

It has warned shareholders that Shell’s current transition plans are not aligned with the Paris Agreement, and has filed a motion – resolution 21 – calling for the oil and gas major to publish targets that cover short, medium and long term emissions in both its operations and the use of its energy products. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell CEO points out loopholes in Russian oil sanctions after announcing record profits

Fortune

Shell CEO points out loopholes in Russian oil sanctions after announcing record profits

BY CHLOE TAYLOR: May 5, 2022 4:16 PM GMT+1

Planned embargoes on Russian oil may be thwarted due to the way the global crude supply chain works, Shell’s CEO explained on Thursday.

Speaking after Shell reported record quarterly profits, Ben van Beurden, the oil giant boss, told reporters that the framework of the world’s crude network left loopholes open in Western government bans on Russian oil.

This is because imported fuels like gasoline, which might have been made from Russian oil but refined outside of Russia, cannot always be traced back to their natural source. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell profits soar to $9.1bn amid calls for windfall tax

The Guardian

Shell profits soar to $9.1bn amid calls for windfall tax

Record quarter piles pressure on government to issue one-off levy to curb rising energy bills

Alex Lawson: Thu 5 May 2022 02.55 EDT

Shell has reported a record quarterly profit of $9.1bn (£7.3bn) for the first three months of the year, piling more pressure on the government to implement a windfall tax to fund measures to tackle soaring household energy bills.

The first-quarter profit was boosted by a sharp rise in oil and gas prices, and compared with $6.3bn of profits in the final three months of 2021 and $3.2bn during the first quarter of last year. It was above analysts’ expectations of first-quarter adjusted earnings of $8.7bn.

Campaigners have called for a one-off levy on companies benefiting from soaring oil and gas prices to fund government initiatives to reduce the burden of rising bills.

Shell’s update comes after BP reported its highest quarterly profit in more than a decade on Tuesday. Its profits more than doubled to $6.2bn, and sparked a clamour for a windfall tax.

The government has resisted calls for such a levy. Boris Johnson has said it would discourage oil and gas producers from making investments into domestic energy.

But BP’s chief executive, Bernard Looney, has admitted none of the £18bn UK investments the company is planning would be dropped if a windfall tax were imposed. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell plc publishes first quarter 2022 press release

Shell plc publishes first quarter 2022 press release

London, May 5, 2022

“The war in Ukraine is first and foremost a human tragedy, but it has also caused significant disruption to global energy markets and has shown that secure, reliable and affordable energy simply cannot be taken for granted. The impacts of this uncertainty and the higher cost that comes with it are being felt far and wide. We have been engaging with governments, our customers and suppliers to work through the challenging implications and provide support and solutions where we can. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell profits jump 43% to £7.2 billion amid calls for windfall tax

Evening Standard

Shell profits jump 43% to £7.2 billion amid calls for windfall tax

By Oscar Williams-Grut City Editor @OscarWGrut: 5 May 2022

Oil giant Shell has announced a huge jump in profits amid growing calls for a windfall tax on oil and gas giants.

Royal Dutch Shell reported underlying profits of $9.1 billion (£7.2 billion) in the first quarter, up 43% on the final three months of 2021 thanks to soaring oil and gas prices.

The huge profits are likely to reignite calls for a windfall tax on energy giants. A one-off tax on BP and Shell alone could raise £9 billion for the Treasury, the Liberal Democrats estimate. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

High energy prices leave oil giants untroubled by Russia exit or tax hints

The Guardian

High energy prices leave oil giants untroubled by Russia exit or tax hints

BP and Shell are expected to report increased profits this week despite taking a big hit from the war in Ukraine

Rob Davies @ByRobDavies: Sun 1 May 2022

“May you live in interesting times,” runs the saying, supposedly an English translation of an ancient Chinese curse.

For BP and Shell, the British companies that account for two of the world’s seven oil “supermajors”, the first quarter of 2022 has been painfully fascinating. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

BP and Shell record mega-profits as firms exploit soaring energy prices

EXPRESS

BP and Shell record mega-profits as firms exploit soaring energy prices

RECORD gas and oil prices since the Ukraine conflict have helped deliver bumper dividends for shareholders in energy companies.

By TOM HILL

13:56, Wed, Apr 27, 2022 | UPDATED: 13:57, Wed, Apr 27, 2022 Both gas and oil prices had already been pushed up over winter as supply failed to keep pace with demand bouncing back from the pandemic. Since Russia’s invasion of Ukraine prices have been squeezed even further with oil soaring past $100 (£79.64) a barrel to heights of up to $130 (£103.52). The increased revenue from energy has helped deliver soaring returns for investors with the oil sector seeing dividends rise 29 percent in the first quarter of 2022 according to data firm Link Group. Link points to an “astonishing rebound in oil prices” which it says has “delivered a dramatic turnaround” for energy firms. The contribution of energy firms helped drive up UK dividends by an average 12.2 percent on an adjusted basis.

Among the top 10 dividend payers for 2022 are Shell, BP and National Grid.

The growing profits for energy firms has attracted criticism given the UK’s current cost of living crisis with some calling for a windfall tax on the gains.

So far though the Government has dismissed the idea with Justice Secretary Dominic Raab calling the idea “disastrous”. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell goes tax free in the North Sea after £100m government refund

CITYA.M.

Shell goes tax free in the North Sea after £100m government refund

: WEDNESDAY 06 APRIL 2022

Energy giant Shell paid no tax on its North Sea oil and gas production last year even as the global energy crunch saw it profits soar to more than $19bn.

The London-headquartered firm bagged tax refunds relating to the decommissioning of old oil platforms in the North Sea, meaning it received $131.8m from the UK treasury in 2021, according to details of its payments to government released yesterday. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell has allegedly engaged in a false, deceptive, and unlawful advertising scheme

Current litigation in Florida where Shell has allegedly engaged in afalse, deceptive, and unlawful advertising scheme”

THE ABOVE IMAGE IS FROM THE FLORIDA LEGAL DOCUMENT

EXTRACTS FROM A FLORIDA LEGAL DOCUMENT IN WHICH SHELL OIL COMPANY IS THE DEFENDANT: To drive sales and increase their own revenue, Defendant has engaged in a deceptive pricing scheme which misleads consumers into believing they will be charged a lower price for gasoline purchases made with debit cards, when in reality consumers are charged a higher “credit” price for these transactions. By this action, Plaintiff seeks damages on behalf of the Class as defined herein arising from Shell’s false, deceptive, and unlawful advertising scheme, as well as injunctive and equitable relief to end Shell’s scheme. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell Will Have Difficulty Paying for Russian Gas Due to U.K. Sanctions

Bloomberg

Shell Will Have Difficulty Paying for Russian Gas Due to U.K. Sanctions

  • Shell is prevented from dealing with Gazprombank by U.K. law
  • Gazprom is looking at ways to solve Shell’s payment issue

Shell Plc may have difficulty paying for Russian gas supplies this month because the Kremlin wants payments transfered through U.K.-sanctioned Gazprombank JSC, according to two people familiar with discussions in Russia.

Gazprom PJSC, the single largest provider of natural gas to the European continent, now only accepts ruble payments for supplies of the fuel to so-called ‘unfriendly’ states, including the European Union and the U.K. Shell has at least two long-term contracts that would be affected by this rule, jointly equivalent to about 1.5% of Gazprom’s annual exports to key foreign clients. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell reconsidering decision to pull out of Cambo oilfield – report

Evening Standard

Shell reconsidering decision to pull out of Cambo oilfield – report

Work on the proposed development off the west coast of Shetland stopped in December.

By PA Reporter: 22 March 2022

Energy company Shell is reportedly reconsidering its decision to pull out of the controversial Cambo oilfield.

Work on the proposed development off the west coast of Shetland was paused in December after Shell decided to withdraw from the project, concluding the economic case for investment was “not strong enough”. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell boss rakes in £7million in shares thanks to the cost of living crisis after the oil and gas giant recorded £12billion profits

Daily Mail: MailOnline

Shell boss rakes in £7million in shares thanks to the cost of living crisis after the oil and gas giant recorded £12billion profits

“He described Mr van Beurden as ‘yet another greedy oil corporation boss profiteering from the misery inflicted by rocketing energy costs’.”

  • Ben van Beurden, 63, has seen the value of his shares skyrocket amid price hikes
  • The CEO has received £71 million in pay and bonuses since taking the job
  • The spike helped the energy giant Shell to unveil a 14-fold increase in profits 

The chief executive of Shell has been criticised after his firm cashed in on the cost of living crisis – leaving him with a lucrative windfall. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.